, Columnist
Rolls-Royce Faces Years of Repair
Incoming CEO faces a struggle to make the engine-maker more nimble
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When Warren East issued a profit warning in his first week in charge of Rolls-Royce in July, it looked like one of those kitchen-sinking exercises popular with incoming CEOs who want to start with a clean slate. If only.
Yet another warning arrived on Thursday, when the British industrial stalwart said next year's earnings will be cut by 650 million pounds ($990 million) because of falling demand for corporate jet engines and lucrative maintenance work from the owners of large passenger aircraft.